Car insurance often proves to be very expensive. To reduce the monthly premium for the insurance, many car owners go for lesser coverage. This could prove very dangerous in the long run given that car damages cost a lot to repair. However, instead of going for lesser coverage there are many other ways of saving on your car insurance. That way you can keep the cake and eat it too. Insurance companies want to make profit and it is more profitable if you are someone who has very less chance of claiming for damage but will pay the premiums regularly, compared to someone who claims a lot of coverage.
Combine with house insurance or second car insurance
If you have two cars, you can actually save on the insurance by combining both of them. Since you are doing more business with the insurance provider, you are likely to get a good discount. You can also combine your car and house insurance thus getting a suitable discount on both of them.
Use your impeccable traffic record
If you have a very good record and a clean sheet over a period of 3 – 5 years without any traffic bill, you can get the coverage for much lesser premium. This is because you are a safer profile for the insurance provider.
Use anti theft and safety mechanisms
You can get better insurance coverage for lesser premium by spending a small amount on installing anti theft mechanisms in your car. A simple alarm can reduce the chances of a car theft greatly. The same way, your car will be safer if it has navigation control systems installed. Thus it is easy to convince the insurance provider that the chances of claims are lesser than in the normal cases. To get to the heart of the matter, insurance companies profit if there are lesser claims and face a loss if they have to provide coverage charges for more vehicles. Hence the safer your car, the better it is for them. Hence such customers get an incentive in the form of a discount and lesser premium.
Use Medium Price Sedans
It is statistically true that the premiums are the least for the normal sedans that they are for the more expensive sports vehicles. The reason is very straight forward. A sports car is more likely to be part of an accident than a normal sedan. Also, the cost of damage repairs is much higher for a sports car than a normal sedan. Hence the insurance for the more expensive cars, is expensive too.
Commute Less With Cars
This might not always be possible, but those who use the public transportation more often than not tend to get the insurance for a cheaper premium than those who commute a lot using their own cars. This is because, lesser you commute in your own car, less is the chance of a car theft or car accident. Hence insurance companies provide coverage for lesser cost. This is also the reason why housewives and seniors who don’t have to commute to work every day get the insurance coverage for a cheaper cost than men who go to work in their cars every day. At the end of the day, getting cheaper car insurance is all about convincing the insurance provider about the relative safety of the car.